Fukuhara has extensive Japanese corporate experience gained through a career at Shiseido, the Tokyo-based manufacturer of luxury cosmetics, make-up, skin care and fragrances. He is the grandson of Shiseido founder Arinobu Fukuhara and joined Shiseido in 1953. Fukuhara was appointed president and CEO in 1987 and then chairman of the board of directors in 1997. He took up his current role of honorary chairman in 2001.
ôWe are delighted that such a respected Japanese businessman and philanthropist has agreed to become a senior adviser to KKR in Japan, and look forward to his input as we use our guiding principles to build strong relationships in this market,ö says Henry R Kravis, founding partner of KKR in a written statement.
KKR was established in 1976 by members Henry Kravis and George Roberts. It currently has 26 members. The US-headquartered private equity firm has completed more than 160 transactions with an aggregate enterprise value of over $410 billion. As of September 30, 2007, its equity investments were valued at over $86 billion on over $39 billion of invested capital, a multiple of 2.2 times. KKRÆs investors include corporate and public pension plans, financial institutions, insurance companies, and university endowments. It has historically operated through offices in the US and Europe but recently enhanced focus on the Asia-Pacific region with offices in Hong Kong, Beijing, Tokyo and Sydney.
KKRÆs recent deals in the region include a S$785 million ($548 million) takeover of Singapore-listed Unisteel Technology and a $250 million investment in Indian telecommunications infrastructure firm Bharti Infratel.
Japan has traditionally been a difficult market for financial sponsors as managers of local firms have been reluctant to induct private equity investors. But Japan is also the Asian market with the potential for the large-ticket buyouts that private equity firms tend to favour. Having an industry stalwart like Fukuhara on board could be just what KKR needs to help it source and close deals.
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